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Turkish Draft Law Regulating Cryptocurrencies Enters Parliament in October
21.7.2021
The Turkish government has prepared a bill designed to implement new regulations for the country’s crypto space. The legislation, which will be filed in the parliament this fall, will introduce taxation for crypto holdings and specific capital requirements for companies operating with digital...
Crypto tax startup TaxBit reportedly in talks for unicorn-level funding
21.7.2021
The possible new funding would bring the Utah-based crypto tax automation provider to a valuation of $1 billion or above
Are You Crypto Tax Compliant? Here’s How to Avoid Getting Caught Out
19.7.2021
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Over the last eight months, as cryptocurrencies reached for new all-time highs, many people who have been holding digital assets for the long term will...
Jackson, Tennessee Mayor Praises Bitcoin’s Benefits Against Inflation, Aims to Create a BTC Hub
18.7.2021
Jackson, Tennessee’s mayor is a fan of bitcoin and he wants the city to become a bitcoin hub in order to entice technology companies and innovation. Jackson’s mayor Scott Conger is in the midst of discussing creating legislation that allows Jackson residents to pay property taxes with...
Report: Tweaks to South African Tax Filing System to Result in Decreased Crypto Arbitrage
17.7.2021
Reports from South Africa suggest that tax authorities have plugged a loophole on the online tax filing system that enabled crypto arbitrage traders to make several purchases on overseas cryptocurrency platforms using just one approval. As a consequence of these tweaks, crypto arbitrage traders...
Tennessee city wants to accept property tax payments in Bitcoin
16.7.2021
Jackson Mayor Scott Conger believes that Bitcoin is the only solution to fix inflation and the U.S. dollar devaluation
Tax Haven Citizenship Loophole for US Crypto Folk May Not Stay Open for Long
13.7.2021
Source: Adobe/Rafael Ben-Ari
A Russian ex-pro sailor has been touting a tax haven investment program for American crypto traders who are looking for legal loopholes to help them escape paying capital gains tax on their profits. But the program could have a shelf life if global regulators succeed...
Former pro sailer brokers tax-haven passports for wealthy crypto clients
12.7.2021
Rich crypto investors are purchasing passports in tax havens for less than $200,000
Creator of Video Downloading Websites Sentenced to Prison in US — Over $1 Million in Cryptocurrency Seized
11.7.2021
The U.S. has sentenced a creator of video streaming and downloading websites to prison for 12 months and one day. The feds also seized $3.9 million from him, including more than $1 million in cryptocurrency. Man Sentenced to Jail for Copyright Infringement and Tax Evasion, His Cryptocurrency Seized...
NCLA Files Appeal Against the IRS — Law Firm Claims Tax Agency Unlawfully Seizes Crypto Data of Thousands
10.7.2021
On Friday, the public interest law firm New Civil Liberties Alliance (NCLA) filed an opening brief in the cryptocurrency case of James Harper v. Charles P. Rettig. The NCLA argues that Harper’s Fourth and Fifth Amendment constitutional rights were violated by the Internal Revenue Service...
Studio Behind Demon Slayer Anime Indicted For Tax Evasion
9.7.2021
Tokyo prosecutors have indicted anime studio Ufotable and its founder Hikaru Kondo for evading around $1.2 million in taxes. NHK and ANN News reports that between 2015 and 2018, the studio and Kondo hid around 4 million dollars in company earnings. According to sources, the president had a secret...
Are cryptocurrency ransom payments tax deductible?
4.7.2021
Any ransom payments made in cryptocurrency are taxed as property rather than currency, so be aware of the U.S. tax implications
Global Tax Deal Gets Closer, USD 200M For Mercado Bitcoin + More News
1.7.2021
Source: Adobe/Johanna Mühlbauer
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A group of 130 nations, representing more than 90% of global GDP, has agreed to a global minimum...
Cryptowisser : Crypto Taxes Will Continue to See a Regulations Increase as Adoption Rises
28.6.2021
PRESS RELEASE. June 2021, leading Crypto service comparison site – Cryptowisser, attempts to dissipate the cloud of confusion surrounding tax regulations on crypto currencies around the world. As the tax season comes to a close and a record amount of crypto traders are holding, how do...
John McAfee’s Death Ignites ‘Dead Man’s Switch’ Theory — Widow Says He ‘Was Not Suicidal’
26.6.2021
At age 75, the former antivirus tycoon and cryptocurrency advocate, John McAfee, passed away by reported suicide. McAfee was a wild and charismatic man but prior to his death, he was facing tax-related charges and extradition to the United States. For the last few days, the internet has seen myriad...
Korean Government Confiscates $47 Million in Crypto From Tax Evaders
24.6.2021
South Korean authorities have identified thousands of tax evaders as part of an intensifying crackdown on tax dodging among crypto investors. Following a prolonged investigation, the government has reportedly seized cryptocurrency worth millions of dollars. Tax Agents Target Wealthy Tax Evaders...
That’s One Way To Dodge Nintendo’s Lawyers
23.6.2021
Turnip Boy Commits Tax Evasion, a plant-based thriller about defrauding the federal government, is out with a new update today that adds more hats to the Switch version of the game, including one that definitely looks nothing like a Yoshi egg.Read more
Latest South Korean Tax Evasion Busts: Crypto Worth USD 47m Seized
23.6.2021
The South Korean crackdown on high-band taxpayers who have used crypto purchases to hide the scale of their earnings from the taxman has rolled on to the affluent Gyeonggi Province, catching some big fish – with crypto confiscated from rich doctors and TV stars.
Since gaining the powers they needed...
Existing Indian law could impose 2% levy on crypto bought from offshore exchanges
22.6.2021
Existing law in India could mandate a 2% levy on cryptocurrency purchases from offshore-based exchanges servicing India’s market
Portman & Yellen Talk Tax Reforms at Finance Hearing
17.6.2021
The recent Senate Finance Committee saw Portman addressing the claims of Committee Democrats regarding the TCJA (Tax Cuts and Jobs Act.) Senator Portman highlighted the overwhelming positives and wide-ranging effect of the legislation. Portman questioned Janet Yellen (Secretary of the Treasury)...